06/22/2015

Fast & Furious Star Paul Walker's Auto Collection Dispute

Known for his movies about fast cars, Paul Walker owned a large number of very expensive cars. A lawsuit alleges that a number of these cars were taken within 24 hours of his death by an acquaintance – but it is unclear how many vehicles he owned.

Actor Paul Walker's life was all about fast cars – and so was his death. Walter, famous for his role in The Fast and the Furious, passed away in an auto accident in 2013.

After his death, Walker's estate requested information about where the actor's vehicles were located. The lawsuit alleges that his acquaintance, Richard Taylor, created a list of the cars – 31 owned entirely by Walker and one owned with a colleague who died in the same accident that took Walker’s life. The lawsuit claims that at least seven cars are not on the list. Among them is a 2011 Porsche GT3 RS that is valued in excess of $150,000. Richard Taylor was a friend of Walker's who helped maintain his automobile collection. That’s what friends do?

Actually, these types of situations are not unusual. It is the trusted friends and family members who feel they have an emotional connection to the decedent’s possessions and therefore a right to take them.

Estate administrators are charged with being diligent to ensure that no part of the estate is misappropriated and to seek recovery of anything missing if they think that someone took property or any size or value.

The best way to prevent this kind of unintended gifting? Make a complete list of all items of value – sentimental or financial – that you own and provide this list to your estate attorney.

An experienced estate planning attorney will help make sure nothing is missing or left to chance -- from teaspoons to tractors.